DeFi's 48-Hour Repricing: A New Era for Credit Risk
Until recently, lending stablecoins on Aave, a leading DeFi platform, yielded 2.32% APY, lower than the Federal Reserve's overnight rate of 3.64%. This discrepancy suggested that the market viewed unregulated, open-source smart contracts as a lower credit risk than US Treasury bonds. However, this mispricing was short-lived. In a mere 48 hours, the market corrected itself, repricing DeFi credit r…
April 23, 2026, 4:30 p.m.